As seasoned loan officers, we’ve had the honor of guiding individuals like you through the path to homeownership. It’s a journey riddled with potential missteps, but fear not, that’s precisely why we’re here – to ensure you sidestep any possible obstacles on your route to securing a mortgage.

Hold Off on Acquiring New Debt

Homeownership brings a certain level of exhilaration. You may already be picturing a new car gracing the driveway of your new residence. However, it is imperative to exercise restraint on substantial purchases or acquiring new lines of credit at this juncture. Your debt-to-income ratio is a critical determinant of your loan eligibility, and we aim for its optimal health.

Maintain Your Current Employment

While a new employment opportunity may be enticing, it’s crucial to remember that lenders prefer stability. A tenure of at least two years at your present job resonates positively with us at Bison Ventures. Significant career changes during the mortgage process can indeed disrupt proceedings.

Monitor Your Credit Score Diligently

Consider your credit score as the testament of your financial reputation – it holds significant importance. I cannot emphasize enough the necessity of regularly scrutinizing your credit report to rectify any discrepancies that may be present.

Steer Clear of Large Cash Transactions

Abrupt movements of substantial cash amounts in or out of your accounts can convolute the mortgage process. It leads to lender perplexity regarding the source of this money and whether it’s a loan affecting your debt-to-income ratio.

Pre-Approval is Paramount

Achieving pre-approval not only conveys your seriousness about purchasing to sellers but also provides you with an accurate picture of your budget. It aids you in maintaining focus on homes within your price bracket, keeping your aspirations grounded and attainable.

Strict Adherence to Payment Schedules

Keeping pace with all your bills and existing loan payments is fundamental. Even a single late payment can negatively impact your credit score, thereby jeopardizing your chances of acquiring a mortgage.

At Bison Ventures, we believe that expertise without empathy is failure. We aim to ensure you comprehend the process fully, enabling you to make informed decisions and avoid common errors. For us, you’re not merely a number; you are a valued client embarking on an exhilarating journey, and it’s a privilege for us to be part of it.